A UK office furniture manufacturer has reported a decline in both sales and profit for the year ended 31 October 2024.
© Gresham Office Furniture
Gresham Office Furniture saw revenue fall by 5.2%, dropping from £34.3m in 2023 to £32.5m. Pre-tax profit also declined to £1.4m, down from £2m the previous year.
UK sales continued to make up the bulk of the company's turnover but slipped slightly from £33.8m to £32.2m. Export sales also decreased, falling from £438,000 to £268,000.
Despite the dip in performance, the company remained optimistic in its outlook. In its annual report, Gresham stated: 'The directors are pleased with the overall results and credit must be given to all employees for their efforts.'
The results reflect a year of subdued trading amid wider economic pressures affecting the commercial interiors market.
Source: www.bigfurnituregroup.com